Barclays Lowers Ingersoll Rand (NYSE:IR) Price Target to $93.00

Ingersoll Rand (NYSE:IR) had its price target cut by Barclays from $96.00 to $93.00 in a report issued on Wednesday,Benzinga reports. The firm currently has an “overweight” rating on the industrial products company’s stock. Barclays‘s price target would indicate a potential upside of 14.30% from the company’s current price.

Several other brokerages have also recently weighed in on IR. The Goldman Sachs Group upped their price target on Ingersoll Rand from $109.00 to $121.00 and gave the stock a “buy” rating in a research note on Thursday, December 12th. Evercore ISI decreased their price target on shares of Ingersoll Rand from $100.00 to $91.00 and set an “in-line” rating for the company in a research note on Wednesday, February 19th. Robert W. Baird lifted their price target on shares of Ingersoll Rand from $105.00 to $111.00 and gave the company an “outperform” rating in a research report on Tuesday, February 18th. Citigroup cut their price objective on shares of Ingersoll Rand from $119.00 to $115.00 and set a “buy” rating on the stock in a report on Monday, January 13th. Finally, Stifel Nicolaus lowered their target price on shares of Ingersoll Rand from $100.00 to $94.00 and set a “hold” rating for the company in a report on Tuesday, February 18th. Six analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat, Ingersoll Rand has an average rating of “Moderate Buy” and a consensus target price of $105.09.

Ingersoll Rand Stock Down 0.0 %

Shares of Ingersoll Rand stock opened at $81.37 on Wednesday. The company has a current ratio of 2.29, a quick ratio of 1.71 and a debt-to-equity ratio of 0.46. Ingersoll Rand has a 12-month low of $79.79 and a 12-month high of $106.03. The company has a market cap of $32.80 billion, a P/E ratio of 39.50, a PEG ratio of 3.50 and a beta of 1.48. The company’s fifty day simple moving average is $86.94 and its two-hundred day simple moving average is $93.72.

Ingersoll Rand (NYSE:IR) last announced its quarterly earnings results on Thursday, February 13th. The industrial products company reported $0.81 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.85 by ($0.04). The company had revenue of $1.90 billion for the quarter, compared to analysts’ expectations of $1.91 billion. Ingersoll Rand had a net margin of 11.59% and a return on equity of 12.78%. Research analysts anticipate that Ingersoll Rand will post 3.32 EPS for the current year.

Hedge Funds Weigh In On Ingersoll Rand

Hedge funds have recently bought and sold shares of the business. Murphy & Mullick Capital Management Corp purchased a new stake in Ingersoll Rand during the 4th quarter valued at $36,000. OFI Invest Asset Management bought a new stake in shares of Ingersoll Rand in the fourth quarter worth $38,000. Lee Danner & Bass Inc. purchased a new stake in Ingersoll Rand during the fourth quarter valued at $42,000. Ancora Advisors LLC lifted its holdings in Ingersoll Rand by 144.8% in the fourth quarter. Ancora Advisors LLC now owns 497 shares of the industrial products company’s stock valued at $45,000 after acquiring an additional 294 shares during the period. Finally, Millstone Evans Group LLC purchased a new position in Ingersoll Rand in the fourth quarter worth about $50,000. Hedge funds and other institutional investors own 95.27% of the company’s stock.

About Ingersoll Rand

Ingersoll Rand Inc provides various mission-critical air, gas, liquid, and solid flow creation technologies services and solutions worldwide. It operates through two segments, Industrial Technologies and Services, and Precision and Science Technologies. The Industrial Technologies and Services segment designs, manufactures, markets, and services air and gas compression, vacuum, and blower products; fluid transfer equipment and loading systems; and power tools and lifting equipment, including associated aftermarket parts, consumables, air treatment equipment, controls, other accessories, and services under the under the Ingersoll Rand, Gardner Denver, Nash, CompAir, Elmo Rietschle brands, etc.